Air Water Inc. · TSE:4088
Air Water — FY2021 Earnings Presentation
40 slides from Air Water's earnings presentation, May 12, 2022
Slide 1: Fiscal Year 2021 Full Year Financial Results Explanatory Materials
Fiscal Year 2021 Full Year Financial Results Explanatory Materials May 12, 2022 1
Slide 2: Contents
Contents Main points of the full-year financial results for fiscal year 2021 and the full-year financial forecast for fiscal year 2022・・・・・・・３ Fiscal Year 2022 Full-Year Financial Results Forecast Main points of the full-year financial results ■ Full-year financial results forecast ・・・・・・・・・・・・・・・・・
Slide 3: Main points of the full-year financial results for fiscal year 2021
Main points of the full-year financial results for fiscal year 2021 Revenue 888.7 billion yen (110.2% year-on-year) Operating profit 65.2 billion yen (127.2% year-on-year) New record Owners of parent 43.2 billion yen (157.9% year on year) Operating profit margin 7.3% (up 0.9point year on year) high
Slide 4: Full-year Financial Results for Fiscal Year 2021
Full-year Financial Results for Fiscal Year 2021 4
Slide 5: Consolidated income statement
Consolidated income statement (Unit: Billion yen) Increase/decrease FY2020 FY2021 Amount YoY Revenue 806.6 888.7 ＋82.0 110.2% Cost of sales ▲625.7 ▲689.6 ▲63.8 Gross profit 180.9 199.1 ＋18.2 110.1% Selling, general and administrative expenses ▲135.4 ▲139.7 ▲4.3 Other operating income and expenses 3.
Slide 6: Revenue by segment
Revenue by segment (Unit: Billion yen) Increase/decrease Revenue composition ratio FY2020 FY2021 by segment Amount YoY Industrial Gas 185.6 194.6 ＋9.0 104.8% 17.3% 21.9% Chemical 33.4 39.1 ＋5.8 117.3% 5.2% Medical 186.4 195.2 ＋8.7 104.7% 4.4% 6.6% FY2021 Energy 53.1 61.6 ＋8.5 116.0% Agriculture & 15
Slide 7: Operating profit by segment
Operating profit by segment (Unit: Billion yen) Increase/decrease Operating profit composition FY2020 FY2021 Amount YoY ratio by segment Industrial Gas 20.9 21.6 ＋0.7 103.3% Chemical 2.0 3.5 ＋1.5 177.2% 1.0% 15.5% Medical 10.5 11.9 ＋1.4 112.9% 33.1% 5.9% Energy 4.6 4.8 ＋0.2 104.7% 4.8% FY2021 Agricu
Slide 8: Industrial Gas Business
Revenue and operating profit of each segment Industrial Gas Business Main increase/decrease factors ■ Revenue +9.0 billion yen 【＋】· Increase in gas sales after rallying demand from ■Revenue manufacturers in Japan ●Operating profit (Unit: Billion yen) · Rise in sales of equipment and materials for +9
Slide 9: Chemical Business
Revenue and operating profit of each segment Chemical Business Main increase/decrease factors ■ Revenue +5.8 billion yen 900 ■Revenue 【＋】· Increase in sales of functional chemicals for electronic 800 (Unit: Billion yen)90 materials ●Operating profit 700 · Upturn in domestic organic acid market · Inc
Slide 10: Medical Business
Revenue and operating profit of each segment Medical Business Main increase/decrease factors ■Revenue ●Operating profit (Unit: Billion yen) ■ Revenue +8.7 billion yen 【＋】· Increase in rentals of equipment for domiciliary +8.7 oxygen therapy （104.7%） 195.2 340 · Rebound in demand for hospital facilit
Slide 11: Energy Business
Revenue and operating profit of each segment Energy Business ■Revenue Main increase/decrease factors 800 ●Operating profit (Unit: Billion yen)200 700 180 ■ Revenue +8.5 billion yen +8.5 （116.0%） 61.6 160 【＋】· Rise in LPG and kerosene sales prices due to market 600 conditions 53.1 140 · Rebound in de
Slide 12: Agriculture & Food Products Business
Revenue and operating profit of each segment Agriculture & Food Products Business Main increase/decrease factors ■Revenue (Unit: Billion yen) ■ Revenue +6.9 billion yen ●Operating profit 【＋】 · Rise in contract manufacturing quantity in the +6.9 200 （105.2%） 139.5 190 beverage business 1,400 132.6 18
Slide 13: Logistics Business
Revenue and operating profit of each segment Logistics Business Main increase/decrease factors ■Revenue ●Operating profit (Unit: Billion yen) ■ Revenue +5.2 billion yen 【＋】· Rise in trunk line transport volume for B2B logistics and 800 online sales 90 · Increase in volume of shipments of low-tempera
Slide 14: Seawater Business
Revenue and operating profit of each segment Seawater Business ■Revenue Main increase/decrease factors 1,000 ●Operating profit (Unit: Billion yen) 200 ■ Revenue +5.2 billion yen 900 180 【＋】· Ako No.2 Biomass Power Plant began operating 800 160 (January 2021) 700 140 · Increase in commercial-use salt
Slide 15: Other Businesses
Revenue and operating profit of each segment Other Businesses Main increase/decrease factors ■Revenue 20. 0 190 .0 ●Operating profit (Unit: Billion yen) ■ Revenue +32.8 billion yen 【＋】 · Inauguration of the Onahama Power Plant in April 18. 0 +32.8 2021 154.1 170 .0 16. 0 （127.0%） 14. 0 · Increase in
Slide 16: Consolidated statement of financial position
Consolidated statement of financial position (Unit: Billion yen) End of March End of March Increase/decrease 2021 2022 Amount YoY Current assets 335.8 376.9 ＋41.1 112.2% Non-current assets 591.1 645.1 ＋54.1 109.2% Total assets 926.8 1022.0 ＋95.2 110.3% Current liabilities 239.1 263.0 ＋23.9 110.0% No
Slide 17: Cash flow status
Cash flow status (Unit: Billion yen) Increase/ FY 2020 FY 2021 decrease Operating cash flows [(1)] 76.6 71.6 ▲5.0 Investment cash flows [(2)] ▲52.7 ▲53.2 ▲0.5 Financial cash flows [(3)] ▲20.9 ▲6.6 ＋14.3 Total cash flows [(1)+(2)+(3)] 3.0 11.8 +8.8 Cash and cash equivalents at the end of the quarter
Slide 18: Capital investment, depreciation and R&D expenses
Capital investment, depreciation and R&D expenses (Unit: Billion yen) FY2020 FY2021 Increase/decrease Capital investment 52.0 45.5 ▲6.5 Depreciation 39.0 43.4 +4.3 R&D expenses 4.0 5.3 ＋1.4 Capital Investments by Segment (Unit: Billion yen) Increase/ segment FY2020 FY2021 decrease Major capital inve
Slide 19: Supplementary Material
Supplementary Material 19
Slide 20: Revenue and Operating profit by segment (comparison to fiscal year 2019)
Supplementary Material Revenue and Operating profit by segment（Year-on-year comparison to fiscal year 2019） (Unit: Billion yen) Increase/decrease FY2019 FY2021 Amount YoY Revenue 189.0 194.6 ＋5.6 103.0% Industrial gas Operating profit 19.2 21.6 ＋2.3 112.0% Revenue 27.5 39.1 ＋11.7 142.4% Chemical Ope
Slide 21: Number of consolidated companies
Supplementary Material Number of consolidated companies End of March 2021 End of March 2022 Increase/decrease Increase of 19 companies Consolidated subsidiaries* 124 127 Decrease of 16 companies Equity method affiliates 14 12 Decrease of 2 companies Increase of 19 companies Total 138 139 Decrease of
Slide 22: Revenue by product in the industrial gas and energy businesses (in Japan)
Supplementary Material Revenue by product in the industrial gas and energy businesses (in Japan) (Unit: Billion yen) FY 2020 FY 2021 Increase/decrease Amount Amount Amount YoY Oxygen 22.1 27.0 +4.9 122.3% Nitrogen 29.9 31.4 +1.5 105.1% Argon 12.0 12.7 +0.8 106.4% Carbon dioxide 19.6 21.8 +2.3 111.7%
Slide 23: Business profit by segment
Supplementary Material Business profit by segment * Business profit is calculated by subtracting other revenues and expenses from operating profit. (Unit: Billion yen) Increase/decrease FY 2020 FY 2021 Amount YoY Industrial gas 19.1 20.2 +1.1 105.8% Chemical 1.8 3.6 +1.8 197.4% Medical 9.5 11.0 +1.6
Slide 24: Regional business companies: Revenue and operating profit
Supplementary Material Regional business companies: Revenue and operating profit (Unit: Billion yen) Increase/decrease FY 2020 FY 2021 Amount YoY Air Water Revenue 57.2 64.0 +6.8 111.8% Hokkaido Operating profit 4.2 4.0 ▲0.2 94.6% Air Water Revenue 61.1 68.0 +6.9 111.3% East Japan Operating profit 4
Slide 25: Fiscal Year 2022 Full-Year Financial Results forecast
Fiscal Year 2022 Full-Year Financial Results forecast 25
Slide 26: Fiscal Year 2022 Full-Year Financial Results forecast
Fiscal Year 2022 Full-Year Financial Results forecast (Unit: Billion yen) FY2021 FY2022 Increase/decrease （Result） (Forecast） Amount YoY Revenue 888.7 1,000.0 +111.3 112.5% Operating profit 65.2 70.0 +4.8 107.4% Profit before income taxes 64.2 68.0 +3.8 105.9% Profit attributable to owners of the pa
Slide 27: Fiscal Year 2022 financial results forecast by segments
Fiscal Year 2022 Full-year financial results forecast by segments (Unit: Billion yen) FY2021 FY2022 Increase/decrease （Result） (Forecast） Amount YoY Revenue 194.6 211.5 +16.9 108.7% Industrial Gas Operating profit 21.6 23.6 +2.0 109.5% Revenue 39.1 43.8 +4.7 111.9% Chemical Operating profit 3.5 3.6
Slide 28: Industrial Gas Business forecast and main measures
Full-year results forecast and main measures by segment Industrial Gas Business Size increased due to innovative changes in electronics and the overseas business portfolio Revenues secured by revising prices to adapt to increased costs in Japan (Unit: Billion yen) FY2021 FY2022 Increase/ Main increa
Slide 29: Chemical Business forecast and main measures
Full-year results forecast and main measures by segment Chemical Business Business expanded mainly in electronics-related fields, where the market is continuously growing.Further, we will aim for the early realization of effects from the integration of Group companies. (Unit: Billion yen) FY2021 FY2
Slide 30: Medical Business forecast and main measures
Full-year results forecast and main measures by segment Medical Business Responding to demand caused by the recovery from the COVID-19 pandemic Continuing to promote the expansion of business in the field of disaster preparedness and develop new businesses in the field of domiciliary rehabilitation
Slide 31: Energy Business forecast and main measures
Full-year results forecast and main measures by segment Energy Business Steadily Increasing revenues by enhancing LP gas direct sales Promoting efforts to create new types of energy to achieve carbon neutrality (Unit: Billion yen) FY2021 FY2022 Increase/ Main increase/decrease factors YoY 【＋】 Increa
Slide 32: Agriculture & Food Products Business forecast and main measures
Full-year results forecast and main measures by segment Agriculture & Food Products Business Expanding commercial processed foods and health-oriented beverages in response to changing food needs due to the COVID-19 pandemic. At the same time, focusing on responses for the recovering demand for profe
Slide 33: Logistics Business forecast and main measures
Full-year results forecast and main measures by segment Logistics Business Using our logistics network to respond to demand for low-temperature logistics, whose market is growing; expand the environmental logistics business; and work to improve profitability including the realization of proper prici
Slide 34: Seawater Business forecast and main measures
Full-year results forecast and main measures by segment Seawater Business In addition to responding to the recovered demand for commercial-use salt and environmental products, revising the prices of a variety of products including salt products in response to increasing resource prices (Unit: Billio
Slide 35: Other Businesses forecast and main measures
Full-year results forecast and main measures by segment Other Businesses The high-power uninterrupted power supply systems (UPS) business in the overseas engineering business has recovered from the impact of COVID-19. The increase in demand in engineering- and electronics-related fields in North Ame
Slide 36: Cash flow forecast
Cash flow forecast (Unit: Billion yen) FY2021 FY2022 Increase/ （Result） (Forecast） decrease Operating cash flows [(1)] 71.6 85.5 ＋14.0 Investment cash flows [(2)] ▲53.2 ▲117.0 ▲63.8 Financial cash flows [(3)] ▲6.6 26.9 ＋33.5 Total cash flows [(1)+(2)+(3)] 11.8 ▲4.6 ▲16.4 Cash and cash equivalents at
Slide 37: Capital investment plan
Capital investment plan (Unit: Billion yen) FY2021 FY2022 Increase/ segment Major capital investments （Result） （Forecast） decrease in FY2022 ■Industrial gas 12.1 31.9 ＋19.8 • On-site plant for electronics • VSU plants (Chiba and Kameyama, Mie) ■Chemical 3.9 2.1 ▲1.7 ■Medical 3.0 4.7 ＋1.8 • Renewal o
Slide 38: Year-end dividend forecast
Year-end dividend forecast Basic dividend policy We make it a policy to maintain a stable dividend in line with business results in the future aiming at a dividend payout ratio of 30%. （Unit：yen） FY2020 FY2021 FY2022 (Result) (Result) (Forecast) Dividend payout ratio 36.4%*2 29.3% 28.8% Basic net ea
Slide 39: April 1, 2022 Reorganization
Announcement April 1, 2022 Reorganization Corporate Management <Group Corporate Strategy><Corporate Resource Strategy> Committee Office of Corporate Planning Office of HR Strategy Office of Financial Strategy Office of Functional Companies Corporate Communications Office of Legal & Governance Office
Slide 40: Meeting society's needs with nature's blessings.
Meeting society’s needs with nature’s blessings. @® AIR WATER INC.